Daily spot trading volumes on foreign exchange platforms run by Thomson Reuters fell to a three-year low of $90 billion in November, according to figures published by the company late on Friday. That marked a fall of 13.5 percent from the previous month, and helped drag total daily volumes across all types of trading, including swaps, forwards and options, to a two-year low of $316 billion.
The $90 billion average daily spot trading in November was down from $104 billion the month before and down 25 percent from the same month a year ago. This year's high was $135 billion in January. The overall total of $316 billion in November was down 10.5 percent from the previous month and almost 9 percent lower than the same month last year.
Volumes traditionally tail off at year-end as market participants close their books, either booking profits already made during the year or reluctant to make fresh bets in illiquid and potentially volatile conditions. A lot of trading in sterling and "dollar bloc" currencies like the Australian and Canadian dollars goes through Thomson Reuters platforms, while rival EBS, owned by the world's largest inter-dealer broker ICAP has more euro and yen volume.
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